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Egypt's Mostakbal Misr says it has signed several wheat supply deals

Published Jan 17, 2025

Tridge summary

Egypt's state grain buyer, Mostakbal Misr, has signed wheat supply agreements with European grain producers to secure favorable prices and diversify wheat supply sources. The agreements include barter deals aimed at leveraging Egypt's comparative advantages in various sectors, resulting in wheat supplies at competitive prices and reduced costs, providing a significant boost to the national economy. Mostakbal Misr has also purchased sufficient wheat to meet Egypt's needs until the end of June 2025, primarily from Russia, which typically provides 74.3% of Egypt's wheat imports.
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Original content

Egypt’s state grain buyer Mostakbal Misr has signed several wheat supply agreements with European grain producers in a bid to secure favourable prices and diversify the country’s wheat supply sources, it said in a statement. Some of the agreements are barter deals aimed at leveraging Egypt’s comparative advantages in various sectors, the company added. Mostakbal Misr did not provide further details about the agreements, such as the quantity of wheat purchased, the prices and the origin. However, it said the result was “wheat supplies at competitive prices and reduced costs, giving a significant boost to the national economy.” In December, two sources at Mostakbal Misr told Reuters the company had purchased enough wheat to meet the country’s needs until the end of June 2025, mostly from Russia. Egypt typically relies on Russia as its main source of wheat imports, both for government purchases and for the private sector. Egypt imported about 14.7 million tonnes of wheat in 2024 ...
Source: Oilworld
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